McLaren eyes to more than double sales in Asia this year

Article by Anita Panait, on May 30, 2013

McLaren expects to more than double its sales in Asia in 2013, boosted by high demand in China. The carmaker, however, expects its global deliveries to post a little change in 2013. McLaren is planning to open its first four dealerships in China this year and another four in the first half of 2014.

Mirko Bordiga, Asia Pacific regional director for McLaren, told Bloomberg that Asia will account for around 25 percent of the carmaker’s global sales this year, from just 10 percent in 2012. He remarked that the British sports carmaker intends to sell 1,400 units around the world in 2013.

According to McKinsey & Co. estimates luxury car sales in China will likely exceed those in the United States as early as 2016. Bordiga said that McLaren will finally sell vehicles in China this year, adding that the carmaker is waiting for the official documents to start the company.

As part of a campaign against extravagant spending, China is mulling imposing a 20-percent consumption tax on ultra-luxury vehicles that carry prices of over CHY1.7 million ($278,000), according to report of the Nanfang Daily, citing an official from a German luxury carmaker.

Bordiga said that such taxes would likely only affect McLaren's sales in China in the short term, adding that the carmaker will wait and see on how the Chinese government applies the new tax regulation. Liang Yonghuo, an analyst for Haitong International Securities Co., wrote in a note that China’s proposed new policy would most affect ultra-luxury cars from Ferrari and Lamborghini. Liang estimates around 4,000 to 5,000 ultra-luxury vehicles in China.

Topics: mclaren, asia, sales

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